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Tag: existing home sales

Is the "Pig in the Python" Back?

June 24, 2021 by Ivy Zelman & Rachel Rockey

In 2009, when distressed activity was top of mind, we were vocal in our concern that the buildup of foreclosure moratoriums was portraying a false sense of security at a time when industry participants and investors were hoping for a bottoming out in the market. Our views were justified as...
High-End Housing is Back, and For Now, It’s Outperforming

December 17, 2020 by Ryan McKeveny & Dennis McGill

Alongside the broad-based 2H20 surge in homes sales, home prices and housing demand more generally, a notable undertone has been relative outperformance within the high-end segment of the market. What had easily been the most subdued piece of the housing puzzle in 2018 and 2019 has shifted to an outsized contributor of growth...
 
Exploding Housing Demand Viewed in Different Context

December 10, 2020 by Dennis McGill

While robust for-sale housing demand of late has commonly been explained with a pandemic tilt, we believe that the vast majority of the strength has been catalyzed by record low mortgage rates. Not only have mortgage rates...
What a Democratic Sweep Could Mean For Housing?

October 29, 2020 by Ivy Zelman

As we enter the final days prior to the election, I can’t help ponder what the outcome of a Democratic sweep could mean for housing and our country, which appears to be a real potential outcome. To stay away from my political views, I’ll focus on what a sweep would mean specifically for the housing market... 
 
Pandemic or Inventory – What is Driving Relative Strength in New Home Sales?

July 16, 2020 by Zelman & Associates

In so many ways, COVID-19 has altered the way one might describe their home – a place to shelter, their office, a school room, a safe haven, and more. With that has come many opinions and surveys about how consumers are thinking about owning versus renting, urban locations versus the suburbs or expensive job centers versus... 
A Fair Premium for New Homes Versus Existing Stock a Complicated Topic

June 14, 2019 by Zelman & Associates

Earlier this week, Redfin, the technology-enabled real estate brokerage, published a study on the valuation premium associated with a garage versus a similar property without one. Across its national analysis, the average premium realized for ...

Where are the iBuyers Heading Next?

April 19, 2019 by Zelman & Associates

In recent years, iBuyers have gained notable attention and become a widespread topic of debate. Effectively the new-age version of “We Buy Ugly Houses”, which has been around since 1989, iBuyers charge sellers 7-10% of their home value in exchange ...

What Percentage of First-Time Buyers Will Never Leave? Higher Than You Think

February 09, 2018 by Zelman & Associates

In 2017, we estimate that there were approximately 6.4 million home closings, inclusive of existing home transactions and new construction. We further estimate that 79% of these homes were purchased by owner-occupants, as opposed to investment ...

Could Tight For-Sale Inventory Depress Consumer Enthusiasm Shortly?

August 25, 2017 by Zelman & Associates

Yesterday, the National Association of Realtors released its estimate for July existing home closings. Adjusted for seasonality, transactions were up 2% year over year, leaving the trailing three-month average increase at a similar 2% level ...

House “Flipping” Hints at Redevelopment of Stale Existing Home Inventory

June 16, 2017 by Zelman & Associates

Last week, ATTOM Data Solutions released its quarterly Home Flipping Report, meant to quantify homes that were purchased and sold within a 12-month period in an arms-length transaction. Historically, we believe that house flipping has carried ...